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Horse and Buggy incorporated is in a declining industry. Sales, earnings, and dividends are all shrinking at a rate of 4% per year. a. If

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Horse and Buggy incorporated is in a declining industry. Sales, earnings, and dividends are all shrinking at a rate of 4% per year. a. If r=16% and DIV1=$3, what is the value of a share? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b. What price do you forecast for the stock next year? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. c. What is the expected rate of return on the stock? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places

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